Trinidad Gets US Waiver to Pay Cash for Venezuela Natural Gas
Trinidad and Tobago obtained an amended license from the US Treasury on Tuesday that will allow them to pay Venezuela in cash for the natural gas it will import from a project with the South American nation, Oil Minister Stuart Young said in a news conference. Trin and Tobago obtained an amended license from the US Treasury on Tuesday that may permit them to pay Venezuela in money for the pure gasoline it is going to import from a challenge with the South American nation. The modification permits Trinidad to pay for Venezuelan gasoline from its Dragon subject challenge in {dollars and different currencies as a substitute of humanitarian help, as a previous US Treasury license allowed. Negotiations had been halted in 2019 as a consequence of US sanctions, however restarted after the US treasury issued a waiver in January permitting Trinidad to re-engage in power talks with Caracas. Ongoing negotiations are at “the granular level” of pricing, which entails utilizing a subject in Venezuelan waters to supply pure gasoline, which might be imported by the West Indies nation for use in its petrochemical trade or processed as LNG for export to the worldwide markets.
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(Bloomberg) — Trinidad and Tobago obtained an amended license from the US Treasury on Tuesday that may permit them to pay Venezuela in money for the pure gasoline it is going to import from a challenge with the South American nation, Oil Minister Stuart Young stated in a information convention. The modification permits Trinidad to pay for Venezuelan gasoline from its Dragon subject challenge in {dollars} and different currencies as a substitute of humanitarian help, as a earlier US Treasury license allowed. The step is a significant departure from US coverage towards the Nicolas Maduro authorities, which restricted funds by Venezuela’s companions to swaps or humanitarian help.
Young stated the waiver pertains to an settlement to export pure gasoline from the PDVSA-owned Dragon offshore challenge to Trinidad. Negotiations had been halted in 2019 as a consequence of US sanctions, however restarted after the US Treasury issued a waiver in January permitting Trinidad to re-engage in power talks with Caracas. Ongoing negotiations are at “the granular level” of pricing, Young stated. The challenge entails utilizing a subject in Venezuelan waters to supply pure gasoline, which might be imported by the West Indies nation for use in its petrochemical trade or processed as LNG for export to the worldwide markets. “That OFAC license is a full green light for us to be able to do what needs to be done,” Young. Trinidad had requested amendments in March and September. Young stated Trinidad was knowledgeable by the US officers on Tuesday midday. Earlier Tuesday Venezuela’s authorities and a coalition of the nation’s opposition introduced that they had restarted talks that would pave the best way for oil and banking sanctions aid in alternate for an indication of democratic rules.
Onderwerpen: Caribbean Islands, Trinidad and Tobago, Venezuela, ESG